Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

A reconciliation of the totals reported for the reportable segments to the applicable line items within our accompanying consolidated statements of operations is as follows (in millions, except percentages). We have revised prior periods to conform to the current year presentation.


	Year Ended December 31,
Net sales	2022		2021		2020
MedSurg	$	5,057	$	4,616	$	3,844
Cardiovascular	8,161		7,212		5,913
Total net sales of reportable segments	13,218		11,828		9,756
Other(1)	(60)		13		219
Impact of foreign currency fluctuations	(476)		47		(65)
	$	12,682	$	11,888	$	9,913

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]


	Year Ended December 31,
Income (loss) before income taxes	2022		2021		2020
MedSurg	$	1,625	$	1,524	$	1,156
Cardiovascular	2,113		1,888		1,043
Total operating income of reportable segments	3,737		3,412		2,198
Unallocated amounts:
Corporate expenses, including hedging activities and impact of foreign currency fluctuations on operating income of reportable segments	(436)		(406)		(424)
Intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits) and EU MDR implementation costs	(789)		(1,070)		(1,208)
Amortization expense	(803)		(741)		(789)
Other(1)	(60)		4		143
Operating income (loss)	1,649		1,199		(80)
Other income (expense), net	(508)		(123)		1
Income (loss) before income taxes	$	1,141	$	1,076	$	(79)

(1) In 2022, amounts reflect sales reserves established for Italian government payback provisions, which are being disputed in the Italian court system. These amounts were not allocated to our reportable segments or considered by our CODM for resource allocation and decision-making purposes. In 2021 and 2020, amounts relate to our Specialty Pharmaceuticals business. On March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business. Prior to the divestiture, we presented the Specialty Pharmaceuticals business as a standalone operating segment alongside our reportable segments.

Segment operating income as percentage of net sales [Table Text Block]


Operating income of reportable segments as a percentage of net sales of reportable segments	Year Ended December 31,
	2022		2021		2020
MedSurg	32.1	%	33.0	%	30.1	%
Cardiovascular	25.9	%	26.2	%	17.6	%


	Year Ended December 31,
Depreciation expense	2022		2021		2020
MedSurg	$	88	$	91	$	90
Cardiovascular	245		261		240
Total depreciation expense of reportable segments	333		352		330
Other(1)	—		—		3
Consolidated depreciation expense	$	333	$	352	$	333

Reconciliation of Assets from Segment to Consolidated [Table Text Block]


	As of December 31,
Total assets	2022		2021
MedSurg	$	2,501	$	2,178
Cardiovascular	5,205		4,417
Total assets of reportable segments	7,706		6,595

Goodwill	12,920		11,988
Other intangible assets, net	5,902		6,121
All other corporate assets	5,941		7,525
	$	32,469	$	32,229

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]


	As of December 31,
Long-lived assets	2022		2021
U.S.	$	1,241	$	1,190
Ireland	478		436
Costa Rica	246		185
Other countries	481		440
Property, plant and equipment, net	2,446		2,252
Goodwill	12,920		11,988
Other intangible assets, net	5,902		6,121
Operating lease right-of-use assets in Other long-term assets	386		435
	$	21,653	$	20,795